Irish Property Market chat II - *read mod note post #1 before posting*

SF will get in to government at next election, make a balls of it, and then lose to FF / FG / FF & FG coalition combo and we will be right back here, only at that point Leo or Helen or whoever is leading FG will be able to say "now didn't we tell you not to vote for those silly shinners?"

sf are actually the only ones talking sense, its clearly obvious the ffg approach is never going to work, but sf will absolutely struggle to get their ideas off the ground, and since the electorate has had enough, they may only get one go at it, and this issue will absolutely not be resolved in a single term.....

oh ffs, no its not!

countries such as Argentina, Zimbabwe, Venezuela etc etc, are the way they are for various different reasons, the most common being due to serious supply side issues, and the fact that the bulk of their debts are in foreign denominations such as the dollar, the majority of our debts are in euros....

again, we are in this situation primarily due to our default position of the over reliance on the private sector money supply, the credit supply, the only way to counteract this is to increase our reliance on the public supply, i.e. public debt, and become less reliant on the credit supply, in which is hard wired for returns, public debt isnt, it just needs to be serviced, and can, and regularly is, permanently rolled over, until fully serviced. it is rare that a country fully pays its debts, doing so, would more than likely cause a serious economic crisis, as it would result in a dramatic fall in the money supply, as debt is the money supply....

yes, prices will more than likely keep rising, largely due to our chronic supply problems, and the fact, we re still driving a primarily fire sector approach to this need, again, credit is its main tool, and credit is hardwired to maximise returns, at all costs, a similar issue is also occurring at the corporate level, hence the dramatic rise in financialised activities such as share buy backs etc etc, i.e. returns are easier and faster via these methods, rather than investing in productive means, i.e. creating new assets etc....

what in gods name are you talking about 'needs based welfare model'?

Unemployed/low level employed people getting a €250k house for pennies rent, a dole that is higher than the average salary in China.

Chinese people have a higher iq than irish, better education (in science subjects) and MUCH better work ethic. Eastern china should be richer than Ireland. Simples as. Currency and price moves will force that adjustment over the next decade in a globalised world. If their living standards go higher someone else’s has to drop, hence the so called “supply bottlenecks”, in reality this is just countries getting richer buying up e.g. all the LNG at any price as they can afford this now. This won’t go away.

I am biased because of my extreme dislike at dysfunction and blatant corruption of FF/FG culture. However.

Watching Eoin Ó Broin stumble over his words on prime time and not able to answer core questions, which were simple enough was, alarming. I understand the program is too short for any meaningful discussion and should be a long format. Still I think Darragh O'Brien came off better.

😆

Yeah got my eye on a bedsit in Athlone. 500k. Bit of a fixxerupper but need to get on the ladder.

yea these delays are a serious problem, if we want to get serious in regards reducing carbon etc, we ve got to crack on with public transport, this is the only way to truly deal with the problem, we have to flood the country with alternative transport options, we cant keep defaulting to the personal car

"So what to do now?" -don't know

"Surely there could not be a worse time to buy?" -there always could be something worst.

"Are people crazy to buy houses that are at least 70k overpriced and sometimes even more?" -you have wrong assumptions what is overpriced.

"Will they regret it in a few years when they go to upgrade and find their house is in negative equity just to get on the property ladder?" - you have wrong assumptions here as well.

we are a small open economy. If costs of labour increases business will source that labour in other countries and we loose the income tax raised as a result of employment.

How do you suggest we put more income into people's pockets?

Bear in mind we are one of the most indebted countries so if we reduce taxes to put more money in people's pockets where/how is the shortfall in tax revenue funded?

Is the poster not referring to national debt and is it not a real figure?... I know all the other non financial Corp debt, Gdp figures etc are useless.

We are not the most indebted country but we are heavily indebted.

The question posed was how to achieve the aims of the poster. Do we go into further debt and kick the can down the road and when we go to roll over the bonds the interest rates increase or do we tackle the high cost of living and make some tough decisions.

Ironically there is an article in today's Independent highlighting this very fact. I understand costs are slightly higher due to our geographic location etc but this can be offset in reducing the associated taxes.

We are making ourselves internationally uncompetitive in the main because of our wage costs.

Just watched the debate, couple of points

This was a debate for Sarah Mcenerny not the puppy that was wheeled out

Ff continually interrupting SF while trying to portray a narrative that the opposite was happening and getting away with it

Opposing developments by ff/Fg is more or less nimbyism it appears to be value for money grounds with SF. If we are gifting public land to private developers with the result being "affordable" housing priced at 350 to 400k, we are getting further away from a solution, therefore opposition is valid. From the program one got the impression that only SF opposed developing

50/50 split between social/affordable and private seems reasnoble given the income divide shown in tax receipts during covid.

SF claimed 25% of their 40k figure would be through salvaging the empty properties, hopefully future debates will press them on how this will be achieved

The world needs more people like him to highlight what is happening.

Often wondered why Irish banks were bundling one off houses in rural locations into portfolios and selling into investors back in 2014/15. One would have thought that investors would have gone after bulk properties in a concentrated region to allow for easier management.

Must be quiet a money spinner now if the state is paying HAP and responsible for the management and upkeep